Shares of Reliance Capital, part of the Anil Dhirubhai Ambani Group, gained as much as 3 per cent today on a media report suggesting that Japan-based Sumitomo Mitsui may pick up a 10 per cent stake in the company.

According to the report, talks between the two companies are at an advanced stage and a deal could be signed by September for roughly 10 per cent minority stake.

The valuation, which the company is asking for 10 per cent stake, is very high compared to current market capitalisation that is around Rs15,563.47 crore. According to that, 10 per cent stake would be worth Rs1,532 crore.

The stock of Reliance Capital was quoting at Rs632.25 on the Bombay Stock Exchange in the afternoon, up 1.35 per cent from Thursday.